Zomato Founder-CEO Deepinder Goyal Joins Billionaire Club
- Deepinder Goyal has become a billionaire following a record rally in Zomato shares, which have surged over 300% since July 2023.
- Zomato's stock hit a new high of Rs230 on the BSE, boosting its market cap past Rs1.8 trillion and making Goyal India's richest professional manager with a net worth of Rs8,300 crore.
- The surge in stock is driven by expectations that Zomato's quick commerce business, Blinkit, will outperform peers and turn profitable sooner than anticipated.
- Analysts expect Blinkit to surpass Zomato's food delivery business in gross order value (GOV) and strengthen its market position, despite a longer path to sustainable EBITDA margins.
- Goldman Sachs values Blinkit at $13 billion, higher than Zomato's core food delivery business, predicting significant growth in GOV and EBITDA by FY29.
Source: Money Control
One interview, 1000+ job opportunities
Take a 10-min AI interview to qualify for numerous real jobs auto-matched to your profile 🔑
One founder who truly inspires me!
- Founded Zomato in 2008 and was doing a completely different thing
- First business model failed. Did global expansion across many countries did not work out
- But created an excellent product: most reliable catalogue of restaurants and reviews
- Got into delivery after Swiggy and others
- Executes like a machine. Raised smaller rounds, cross Swiggy GMV, revenue, was first to get to unit profitability.
- BlinkIt acquisition
- Best startup IPO so far in India
Truly the grit an entrepreneur must have. 16 years of building. It isn't easy, I am sure.
Like the summary. Blinkit is worth $13Billion is crazy.
Predicting significant EBITA by FY 29, Goldman Sachs lol....
As in I believe that Blinkit is worth that much. But I don't even wanna know how their analysts have forecasted the biz till FY29... I'm sure it's steep
Zomato is one of my favourite startup stories, so inspiring! Remembered an interview of Sanjeev Bikchandani, the first investor in Zomato (then Foodiebay) - sharing screenshot here :)
What is GS smoking? Blink might be the next Byju's imo. Quick commerce is getting too much hype. All you see on the ground is squeezing of both riders, customers as well as owners of dark stores. I am not sure how long this will last. Mofos have using a hockey stick curve to fit the growth till FY29 looks like
EBITDA = bullshit earnings
TBH, he deserves it. Zomato and blinkit has made life soo easy. Whether it's an emergency or an impulse purchase, they we can get it develivered to door step.